Member Spotlight: Ciuni & Panichi, Inc.

Name

John Troyer

Job Title

Partner

Company Name

Ciuni & Panichi, Inc.

What does your company do?

We are a full-service CPA firm with many years of construction industry experience. Our audit department, led by John Troyer, can handle all financial reporting scopes applicable to construction companies. Banks and bonding companies quickly see that all relevant construction disclosures are included, which provides them confidence in your company and accounting department. Our tax department, led by Tony Constantine, is familiar with all the latest tax laws. We use this knowledge, along with careful planning, to help minimize your tax liability.

What is your favorite part of your job and why?

I like working with middle market, privately owned businesses. Dealing directly with owners and management, they let me know what issues are affecting them. When I am able to help owners and management solve problems, it makes me feel good. Our job is about tackling problems and finding the best solution.

What has been the key to your company's success?

At Ciuni & Panichi, relationships count. We work hard to develop long-standing relationships with our clients and the other service providers they do business with. Our team is devoted to delivering outstanding client service. Also, quality and doing the job right is of the upmost importance. When you are a CPA, you have to be accurate. I believe our reputation around town of being a well-qualified, reputable firm is well earned.

What important changes/initiatives are you working on right now?

In addition to our core industries such as construction and real estate, we continue to grow our employee benefit plan business. This area is subject to significant regulatory scrutiny and many CPA firms are discontinuing working in this area. We are committed to it. We keep close tabs on the latest rules and regulations. In addition to all of the audits of 401(k) and pension funds we perform, we also have a full time ERISA expert, Jeff Spencer, on staff.

How does your company find and retain talent?

Like all my clients will attest, it is not easy! We are proud that we have been a North Coast 99 winner for great places to work for 15 consecutive years. We have heavily invested in our management group, which is comprised of a diverse group of experienced CPAs. We recruit at all the local universities for top talent. Currently there is fierce competition in the labor market. We strive to differentiate ourselves by providing a flexible work environment where accomplishments are recognized and rewarded.

What advice would you give to someone just starting their career in construction?

First off, it is a very admirable and exciting field. You will be a part of building long-lasting projects that are very important to the community. There are many avenues you can go in the construction industry as you progress in the field. The future looks very bright, with the many construction projects on-going and the need for increased infrastructure in the future. Finally, you will work with a great group of people. Contractors and their employees are fun to be around. I like how they are very direct with their opinions. They also seem to really enjoy their work.

What CEA initiatives have you been involved with?

In addition to networking and supporting CEA events, I have assisted CEA in various training programs. I have taught Construction Accounting 101 courses. Construction is a complex business, and if you are not careful, you can get yourself into financial difficulty. To effectively run a contracting business, you need to know how to budget and track your cash flows on each job. Profitability is not based on how much you bill. It is based on how much you drop to the bottom line after expenses.